What is the theory of bureaucratic behavior and how can it be used to explain the behavior of the Federal Reserve?
What will be an ideal response?
The theory of bureaucratic behavior concludes that the main objective of any bureaucracy is to maximize its own welfare, which is related to power and prestige. This can explain why the Federal Reserve has defended its autonomy, avoids conflict with Congress and the president, and its push to gain more control over banks.
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The network of devices directly communicating data to a computer without a person having to enter the data is known as
A) the Internet of Things. B) Big Data. C) Synergistic Communications. D) Artificial Intelligence.
Which of the following actions would cause the aggregate demand curve to shift to the left?
A) an increase in consumer spending caused by a cut in the personal income tax rate B) an increase in government spending caused by increased spending on highways and bridge construction C) a decrease net export spending caused by an appreciation of the home currency D) an increase in exports caused by an increase in economic activity in the European Union
Which of the following pieces of legislation represents a liberalization of federal land policy?
a. The Homestead Act of 1862 b. The Desert Land Act of 1877 c. The Timber and Stone Act of 1878 d. All of the above are correct. e. Only a and c are correct.
Identify factors that would cause consumption spending to increase. What effect would that have on aggregate demand?